The global charbroiler market was valued at $633.6 million in 2020, and is projected to reach $1,489.7 million by 2030, registering a CAGR of 5.7%. North America was the highest revenue contributor, accounting in 2020, and is estimated to grow at a CAGR of 4.6%. Asia-Pacific is estimated to garner the fastest growth rate of 7.2%. North America and Europe collectively accounted for around more than half of the global share in 2020 and is expected to continue the trend throughout the forecast period.
Charbroilers are cooking appliances that are used for grilling and cooking a variety of food items. They consist of an array of grates or one single large grate on which the food is placed. There are three main types of charbroilers depending on the type of fuel or energy source used for heating; charcoal, gas, and electric charbroilers. Gas charbroilers are the most commonly used for both indoor and outdoor cooking, however, charcoal charbroilers are also heavily used for outdoor cooking while electric charbroilers are becoming increasingly popular for indoor cooking applications
The charbroilers market is expected to garner notable growth in the forecast period. The growth of this market can be attributed to growth in the number of food service establishments and growing trend of consuming grilled food among the populace a around the world. Working population of the society can make good use of charbroilers for cooking such food items due to time constraints, ease of cooking, hectic life schedules, and use of less oil while cooking the food, which has significantly boosted the demand for charbroilers. Furthermore, many new commercial establishments like cafes, hotels, and restaurants are being set up and they require many appliances like charbroilers to efficiently perform their daily operations. Many entrepreneurs are setting up new cafes and restaurants as a way to convert their passion into their livelihoods. A lot of hotels are also being set up, or large chains of hotels are expanding their businesses into newer locations. This emergence of new commercial establishments is leading to an increase in the purchase of charbroilers. As such establishments require constant cooking operations that need to be quick, they use charbroilers and other types of appliances in order to speed up their work. These appliances also help smaller food outlets and cafes in maintaining the balance between orders and deliveries.
Many countries across the world are in various stages of development, especially in the Asia-Pacific and LAMEA region. The consumers in these regions mainly belong to the middle-income category. However, as their countries are progressing, their lifestyles are improving as well. There is a lot of migration to urban areas, and the rural areas are also slowly developing. The standard of living of the people in these regions is increasing rapidly. They are getting increased exposure to different parts of the world and are learning about technologies and trends in the developed countries. There is also a lot of foreign investment in developing countries, especially countries like India. Also, many consumers are concerned with the environmental impact that electrical appliances have on the environment. This is pushing the companies engaged in high-speed oven manufacture to reduce their energy consumption and their environmental impacts. Many companies are now taking efforts in order to be environmentally sustainable and reduce their environmental impact as much as possible. The millennial consumer population is especially concerned with environmental sustainability and conservation and gives preference to products that follow the same principles. Engaged stakeholders in the laundry high speed oven market are taking several efforts to ensure that their production processes are environment friendly.
Charbroilers is included in the category of products that is purchased rarely. Hence, the demand for such products has remained quite low among consumers. The outbreak of the novel coronavirus has negatively affected the growth of the market worldwide. There has been a decrease in sales of charbroilers due to slowdown in production due to the worldwide lockdown. Furthermore, the disruption of supply chain has also affected the supply of the product to the global market.
By Type
The Electric Charbroiler segment dominates the Global Charboiler Market and is expected to retain its dominance throughout the forecast period.
The charbroiler market is segmented into type, application, product category, and region. Based on type, the market is bifurcated into electric charbroiler, gas charbroiler, and charcoal charbroiler. Based on application the market is bifurcated into household and commercial. Based on product category the global market is studied across outdoor and indoor. The global canned tomatoes market is also studied across North America, Europe, Asia-Pacific, and LAMEA.
By Application
The Commercial segment dominates the global Charboiler market and is expected to retain its dominance throughout the forecast period.
Based on type electric charbroiler was the dominant segment in the global market with majority of the share in 2020. This segment was is also the fastest growing segment and is expected to dominate the charbroiler market throughout the forecast period. The growth of this segment can be attributed to the use of renewable sources of energy like solar panels that consumers are installing in their houses to reduce electricity costs. Furthermore, they generate much less smoke and cause lesser pollution. The gas charbroiler is expected to grow at a modest CAGR of 4.3% throughout the forecast.
By Product Category
The Indoor segment dominates the global Charboiler market and is expected to retain its dominance throughout the forecast period.
Based on charbroiler market forecast by application, the commercial segment was the largest segment was the largest and the fastest growing segment. The growth of this segment can be attributed to the rise in the number of quick service restaurants, hotels and other food service establishments all across the globe. The household segment is expected to witness modest growth throughout the forecast period. The sale of household charbroilers increased during the lockdowns as many people were trying out new and healthy dishes and were eating a lot of home cooked meals. These charbroilers are now also slowly becoming popular in the Asian region, which can lead to further proliferation of household charbroilers.
By Product Category
The Indoor segment dominates the global Charboiler market and is expected to retain its dominance throughout the forecast period.
Based on charbroiler market analysis by product category, the indoor segment was the largest segment accounting for more than half of the share in 2020. The indoor segment is also the fastest growing segment throughout the forecast period and is expected to remain dominant throughout the forecast period. The growth of this segment can be attributed to it being more applicable for use compared to outdoor segment.
By Region
The North America region dominates the global Charboiler market and is expected to retain its dominance throughout the forecast period.
Based on region, the North America was the largest regional segment in 2020 and is expected to remain dominant throughout the forecast period. U.S. was the most prominent country throughout the forecast period with majority of the share followed by China. Asia-Pacific was the fastest growing segment with a CAGR of 7.2% throughout the forecast period.
Key players in the charbroiler market have relied on strategies such as product launch and business expansion to expand their market share and to stay relevant in the global market. The key players in the charbroiler industry profiled in the report are Atosa USA, Inc., Comstock-Castle Stove Co., Inc., Electrolux AB, Illinois Tool Works Inc, Middleby Corporation, Sas Bakery Equipments, The Montague Company, The Vollrath Co., LLC, W.C. Bradley Co., and Welbilt Inc.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current charbroiler market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assists to determine the prevailing charbroiler market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.
Charbroiler Market Report Highlights
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Analyst Review
According to the insights of CXOs, the kitchen space constraints encourage restaurants, quick service restaurants, and caterings to seek for effective solutions for their commercial kitchens. Therefore, players are investing in R&D activities and making continuous efforts to launch new and improved cooking equipment such as grillers and charbroilers. Thus, the introduction of space-saving multifunction cooking equipment provides consumers effective solutions, thereby promoting the growth of the commercial cooking equipment market. Moreover, as per the key players, increase in penetration of IoT in the food service industry has contributed toward the growth of the market. Players are continuously launching IoT enabled commercial cooking equipment’s in order to capture new opportunities from this segment. In addition to this, rise in number of quick service restaurants act as a key growth driver of the global market. In addition, players are continuously introducing sustainable products that are more energy efficient equipment this aiding customer to cut cost of energy, water and labor.
The market players have adopted key developmental strategies such as new product launch and acquisition to maintain their position in the commercial cooking equipment market. They emphasize on launching innovative products in order to sustain in highly competitive market.
The Charboiler market size is expected to reach at $105.3 billion by 2031
The CAGR of Charboiler market is 5.7%.
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2020 is the base year calculated in the Charboiler market report
Key leading players in the Charboiler market analysis includes Atosa USA, Inc., Comstock-Castle Stove Co., Inc., Electrolux AB, Illinois Tool Works Inc, Middleby Corporation, Sas Bakery Equipment.
The Charboiler market is segmented on the basis of into type, application, product category, and region.
Key trends of the Charboiler market includes expansion of retail channel, growth of food & beverages and rise in number of QSR businesses.
Europe holds the maximum market share of the Charboiler market.
The market will foresee a steady growth in the year 2021 amid the pandemic.
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